Gramm and Saving in the WSJ: The Fed has lost its ability to control interest rates

Gramm and Saving: Has the Fed lost the Ability to control Interest Rates?

Writing in the Wall Street Journal, former Sen. Phil Gramm and Goodman institute Senior Fellow Thomas Saving write “Never in the Fed’s 105-year history has it had less control over market interest rates than it has today…. To expect the Fed to hold interest rates above or below the market rate under these circumstances is not only naive but dangerous.” More.

Kotlikoff: Tax law is more progressive because of tax reform

What share of the tax cuts went to the rich and the poor? The richest 1 percent received 9.3 percent of the total tax cuts, but they were previously paying 30.2 percent of all the taxes. The top 20% received 52.2 percent of the tax cuts, but they were previously paying 80.1 percent of the taxes. The bottom 20% got 3.3 percent of the tax cuts. But previously they were not paying taxes at all. In fact they were receiving a 9.0 percent “refund.” More.

Goodman: Why the left doesn’t understand health care

In one case, an insurer prevented a woman from getting a CT scan her doctor ordered. In another, a mother couldn’t afford the full regimen of special bags needed to clear her cancer-stricken daughter’s lungs. In a third case, a woman lost her health insurance and could not afford end-of-life chemotherapy. These examples come from National Nurses United, the country’s largest nurses’ union. To prevent further incidents like these, the union favors a universal, government-run health care system. A lead editorial in the New York Times last week appeared to endorse their thinking. Here is what these folks are missing.

Kotlikoff: Social Security’s deficit just rose by $9 trillion

Kotlikoff: Social Security is Broke

Social Security’s annual Trustees Report just came out and it shows that Social Security ran a gigantic $9 trillion deficit between last year and this year. The system’s long-term unfunded liability is now $43 trillion, up from $34 trillion last year. More.

Why Employers Pay Too Much for Health Care

Employers are paying hospitals more than twice as much as what Medicare pays. At some hospitals they are paying four times as much. So, who’s to blame? John Goodman says employers are to blame. More.

Hayworth on Fox

Women’s issues are the issues that concern us all – including the economy. On Biden: Personalities are not policies. On Trump: The economy has been good for women. More.

Goodman on HSAs

No other savings vehicle can top an HSA. Not a 401(k) plan. Not an IRA. Not even a Roth IRA. For starters, deposits to an HSA escape both income and payroll taxes. That can’t be said of the other three options. During the retirement years, health expenses are going to be larger than what most people realize. HSA withdrawals can be used to pay premiums for Medicare Part B, Part C and Part D, as well as any out-of-pocket medical expenses.
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Wedekind on Trump’s Reform of Medicare

Accountable Care Organizations are President Obama’s attempt at stealth privatization — 10.4 million people think they are in a fee-for-service system, when in reality their doctors have economic incentives to reduce care. And it has been illegal for doctors to inform their patients of this fact. John Goodman and Laurence Wedekind explain the development and what Medicare director Seema Verma is doing about it.
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